In a stunning display of market activity, BlackRockās iShares Bitcoin Trust (IBIT) saw trading volumes skyrocket to over $1 billion within the first 20 minutes of trading after Donald Trumpās victory in the 2024 U.S. presidential election. This impressive start highlights the surge of investor interest triggered by the prospect of a pro-crypto president re-entering the White House.
š Trumpās Victory Ignites Bitcoin Market Optimism
Trumpās win on Nov. 5 has reenergized the cryptocurrency community, with many investors anticipating a more favorable regulatory landscape for digital assets. Analysts predict that with Trump, a known crypto-friendly figure, beginning his second term on Jan. 20, Bitcoinās upward momentum could gain even more strength.
Fadi Aboualfa, head of research at Copper.co, shared with Cointelegraph that a $100,000 Bitcoin is not far-fetched, suggesting the market could achieve this milestone by the time Trump takes office.
šø BlackRockās Bitcoin ETF Breaks Records
The trading frenzy around BlackRockās Bitcoin ETF marks a historic moment. Within the first 20 minutes, the ETF registered nearly $1.1 billion in trading volume, matching what it typically sees over an entire trading day, as reported by Bloomberg ETF analyst Eric Balchunas.
Balchunas noted on X: āIBIT has seen $1b in volume in the first 20mināthatās about what it does in a full day. Other bitcoin ETFs in the same boat, crazy volume.ā
š® Bitcoinās Path Forward: A Closer Look
With renewed optimism and high trading volumes, analysts are keeping a close watch on Bitcoinās price trajectory. The post-election boost could be the precursor to a significant rally, potentially setting the stage for a run toward $100,000 or higher. Investors see Trumpās pro-crypto stance as a potential catalyst for more supportive policies, reduced regulatory hurdles, and increased mainstream adoption.
š Conclusion: A New Era for Crypto?
The extraordinary early trading activity of BlackRockās Bitcoin ETF underscores the marketās readiness for growth under a Trump presidency. With the worldās eyes on Bitcoin, the coming months could define the next chapter for the crypto market. Are we witnessing the dawn of Bitcoinās next great surge? The signs are looking bullish, but time will tell if this momentum holds as we head into 2025.
